Why the Solana (SOL) Price is Up Today

TL;DR

• The cryptocurrency market is experiencing a big upswing, with most digital belongings, together with Solana (SOL), recording substantial good points.
• Solana has notably elevated by over 8% in 24 hours and has seen a formidable 80% rise prior to now month, with its value reaching practically $70 at one level.
• The surge in Solana’s value may very well be partly attributed to the efficiency of the Solana-based memecoin Bonk (BONK), which has elevated by 17% prior to now 24 hours and 600% during the last 30 days, particularly following KuCoin’s introduction of the BONK/USDT buying and selling pair.

The cryptocurrency market has as soon as once more flashed inexperienced in the present day (November 29), with most digital belongings charting substantial good points.

One of many tokens standing out as a high performer is Solana (SOL), which has jumped by over 8% (per CoinGecko’s information) on a 24-hour foundation.

One cause behind the asset’s renewed rally may very well be the prevailing bullish sentiment round it and its spectacular value efficiency prior to now few months. Recall that SOL has skyrocketed by 80% prior to now month, reaching virtually $70 at one level.

One other issue may very well be the value surge of the Solana-based memecoin Bonk (BONK). As CryptoPotato reported, the token soared 12% yesterday (November 28) following the information that crypto trade KuCoin launched the BONK/USDT buying and selling pair.

The memecoin has risen one other 17% for the previous 24 hours, being a whopping 600% up on a 30-day foundation.